who makes vinfast cars​

From Local Ambition to Global Contender: The Story Behind VinFast

The Vietnamese automotive manufacturer, VinFast, is the brainchild of its parent company, Vingroup, the largest private conglomerate in Vietnam. The company was founded by billionaire Pham Nhat Vuong, who has since taken on the role of CEO to personally steer the company’s ambitious global expansion.

Established in 2017, VinFast represents Vietnam’s bold entry into the global automotive market. The company has rapidly transitioned from producing internal combustion engine vehicles to becoming an all-electric vehicle manufacturer, a testament to its forward-looking vision.

The name “VinFast” is a portmanteau of Vietnamese words that reflect the company’s core values:

  • Việt Nam (Vietnam)
  • Phong cách (Style)
  • An toàn (Safety)
  • Sáng tạo (Creativity)
  • Tiên phong (Pioneer)

A Rapid Rise in Automotive Manufacturing

VinFast’s journey began with the construction of a state-of-the-art manufacturing complex in Hai Phong, Vietnam. This facility, built in a remarkable 21 months, boasts a high degree of automation, with up to 90% of its production processes automated. The initial phase of investment for this plant was a substantial US$1.5 billion.

The company made its international debut at the 2018 Paris Motor Show, where it unveiled its first models, the Lux A2.0 sedan and the Lux SA2.0 SUV. These vehicles, based on BMW platforms, quickly gained traction in the domestic market, becoming best-sellers in their respective segments.

Global Expansion and a Focus on Electric Vehicles

Pivoting to an all-electric strategy, VinFast has ceased production of its gasoline-powered cars to concentrate on the burgeoning EV market. The company is not only focused on its domestic market but has also embarked on a significant global expansion.

VinFast is establishing a strong international presence with manufacturing facilities and showrooms in key markets. In addition to its primary manufacturing base in Vietnam, the company is building a plant in North Carolina in the United States, with a projected annual capacity of 150,000 vehicles.

Furthering its global ambitions, VinFast has commenced the construction of an integrated EV manufacturing unit in Thoothukudi, Tamil Nadu, India. This facility is expected to have an annual capacity of up to 150,000 units and will cater to the Indian market as well as countries in South Asia, the Middle East, and Africa.

With a strong backing from its parent company, Vingroup, and a clear vision for the future of mobility, VinFast is positioning itself as a significant new player in the global electric vehicle revolution.

Read more Phạm Nhật VượngPham Nhat Vuong

Also Read : VinFast India

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